Global Folate Market Size, Trend, Share, Growth, and Forecast to 2030

  • Jun 22, 2023
  • | 68
  The total value of the global folate market was approximately USD 789.3 million in 2022, and analysts forecast that it will increase to approximately USD 1113.4 million by 2030, expanding at a compound yearly growth rate (CAGR) of approximately 3.5% between 2023 and 2030. Folate Market: Overview The B vitamin family includes the vital nutrient foliate, which is often referred to as vitamin B9 or folic acid. Folate is a member of the B vitamin family. It is known as a water-soluble vitamin, which indicates that it is easily dissolved in water and does not accumulate to a substantial degree in the body. As a result, it is essential to incorporate it on a consistent basis into one's diet in order to keep optimal levels. Folate is an essential nutrient that helps the body produce DNA and RNA, contributes to the maturation of red and white blood cells, and plays a part in the breakdown of amino acids. In stages of life characterised by accelerated cell division and growth, such as childhood, pregnancy, and adolescence, it is of the utmost significance. Involvement in the process of synthesis and repair of DNA, which is the genetic material of cells, is one of the essential roles that folate plays in the body. It plays an important role in the formation of new cells, particularly red blood cells, which are responsible for transporting oxygen throughout the body. Folate is essential for healthy brain function in addition to being required for the creation of neurotransmitters. Read Related: Folate Market: Growth Drivers More people are becoming aware of how essential it is to take folic acid supplements. Folate is an essential nutrient for foetal development, particularly in the early stages of pregnancy when the neural tube is still being formed. Folate's impact on foetal development cannot be overstated. A neural tube defect in the developing baby, such as spina bifida, can be caused by an insufficient amount of folate consumed during pregnancy. As a direct consequence of this, there has been an increased awareness directed towards the significance of taking folic acid supplements throughout the early stages of pregnancy and by women who are considering becoming pregnant in the near future. The use of folic acid supplements is being actively promoted by medical professionals, such as obstetricians and gynaecologists, in order to guarantee that pregnant mothers have enough levels of folate in their bodies. In addition, many nations have launched public awareness efforts and educational programmes to educate people about the advantages of taking folic acid supplements. Folate Market: Segmentation The global market for folate may be broken down into distinct submarkets according to the product type, application, end users, and location. Folic acid and natural folate are the two distinct product categories that make up the two distinct subsets of the global market. It is anticipated that the folic acid segment would grab the biggest market share over the course of the projection period. Numerous nations have instituted folic acid fortification programmes as a public health strategy to reduce the risk of neural tube abnormalities (NTDs) in neonates. Folic acid consumption before and during the early stages of pregnancy can help minimise the incidence of neural tube defects (NTDs), which are major birth disorders that affect the brain and spine. The addition of the nutrient folic acid to staple foods including cereals, bread, pasta, and flour is the most common method of folic acid fortification. Folate Market: Regional Analysis During the time period covered by the forecast, it is anticipated that North America would have the majority share of the market. On the international market for folate, the North American region, which consists of the United States of America and Canada, is a key region. It is distinguished by having an established healthcare infrastructure, a high level of consumer awareness, and a significant emphasis on preventative healthcare and well-being. The desire for nutritional supplements, foods that have been artificially enhanced, and medications all contribute to the large market share that North America possesses in the global folate industry. Folate Market: Competitive Analysis The global folate market is dominated by players like: DSM Nutritional Products BASF SE Gnosis by Lesaffre Merck KGaA Zhejiang Shengda Bio-Pharm Co. Ltd. Jubilant Life Sciences Ltd. NattoPharma NBTY Inc. (Nature's Bounty Co.) Pharmavite LLC NOW Health Group Inc. The global folate market is segmented as follows By Type Folic Acid Natural Folate By Application Food industry Nutraceuticals Pharmaceuticals By End-user Fortified Foods Baby Foods Supplement By Region North America The U.S. Canada Europe France The UK Spain Germany Italy Rest of Europe Asia Pacific China Japan India South Korea Southeast Asia Rest of Asia Pacific Latin America Brazil Mexico Rest of Latin America Middle East & Africa GCC South Africa Rest of Middle East & Africa

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